Prime Minister's Office
PM addresses Economic Times Global Business Summit
Since 2014, the country has moved ahead with Cooperation in Spirit, Collaboration in Action and Combination of Ideas : PM
The Prime Minister, Shri Narendra Modi addressed the Economic Times Global Business Summit today. Broad theme of the Global Business Summit 2020 is ‘Collaborate to Create: Sustainable Growth in a Fractured World’.
Pointing to the threat of coronavirus faced by the world, the Prime Minister described the theme as apt for the current times. He also said “India and the World have to meet the challenge together.” He said that new challenges emerge in every era which further strengthens our spirit of Collaborate To Create.
The Prime Minister said there was a time when prognosis of a particular section of the society would shape the public opinion. Their views on any matter would be considered as the final word. “But with the development of technology and the 'Democratization' of Discourse, now opinions of all sections of society have begun to matter,” he said.
The Prime Minister said “We want to change the status quo, but our critics don't want it.” He added that critics don’t approve of those doing the right thing. He said those who advocate about the rights of refugees are now opposing the CAA which is enacted for the refugees. He added those who believe in the constitution are themselves against the removal of Article 370.
Invoking the quote in RamcharitManas “It's easier to preach than act”, the Prime Minister said the government believes in conviction in governance rather than convenience in governance. He said that the government believes in the “Conviction To Do The Right Thing, Conviction To Break The Status Quo”, and is getting out of convenience of inaction in every sector. In this context he listed the actions taken by the government, like DBT, RERA legislation, IBC, Mudra scheme, creation of the post of Chief of Defense Staff, giving 10 percent reservation to the poor of the general class.
The Prime Minister highlighted since 2014, the country has moved ahead with Cooperation in Spirit, Collaboration in Action and Combination of Ideas. He added, “Today, India is creating a model of Sustainable Growth, which is benefitting the whole world.” He listed the outstanding achievements in the last six years, like the pace of Highways Construction, Railway electrification, capacity addition in airports, increased cargo handling at our Major Ports and reduced turnaround time at Major Ports. This was achieved by removing silos in government departments and collaborating, he added.
The Prime Minister said despite the weak Global Economy, India has become stronger in the last few years. He said India has improved from 11th largest economy in the world to 5th largest now. He announced that the government is working at four different levels to achieve the goal of $ 5 trillion economy.
First - Connect with private sector
Second-Fair Competition
Third- Wealth Creation
And fourth - Deletion of Archaic Laws
The Prime Minister further said that the Government has prepared a roadmap for investment of more than Rs 100 lakh crore in the infrastructure sector and chosen a path of Powerful Progressive Push  for the development of the country through Public-Private Partnership  !!! He said “Government is opening more and more sectors of the economy to the private sector. Corruption and Cronyism would be strictly dealt with, to promote fair competition.”
The Prime Minister stressed that the Government is focusing on Simplification, Rationalization and Transparency. He said that today, India has the lowest Corporate Tax among the major countries in the world and has improved 77 ranks in Ease of Doing Business's rankings in just 5 years. He added, “In 2019, the Foreign Direct Investment worth $ 48 Billion was invested in the country. Private Equity and Venture Capital Investment worth $ 19 Billion were invested in the country.”
The Prime Minister said that the government is consistently communicating with all stakeholders, taking feedback and taking major decisions at every level. The Prime Minister highlighted the role of India in building international institutions like International Solar Alliance, Coalition for Disaster Resilient Infrastructure, etc. In this context he said, “We are collaborating to create not only at the national level but also at the international level.”
The Prime Minister said that the 21st century is full of possibilities, however there is a lack of common Global consensus today. He said that India has made major changes in line with the changing global conditions. Talking about India’s foreign policy, he said, “In the past India was neutral by maintaining distance. However today, India is neutral by forging friendship and moving together.”